Group Structure

Land Securities Group Plc
02 July 2004

2 July 2004


LAND SECURITIES GROUP PLC ('Land Securities' / 'Group')

Land Securities has today announced the future management and organisational
structure of the Group to be introduced by Francis Salway when he becomes Group
Chief Executive on 14 July 2004.  These changes will take effect from October
2004.

The Group's intention is to focus its business on three sectors of the UK
property market, namely retail, London office and property outsourcing.  As a
result the Group intends to divest its industrial portfolio, predominantly
located in the south-east, which represents approximately 4% of its investment
portfolio.  Over the course of the next twelve months the Group will seek to
realise the value of this portfolio through either asset sales or property
swaps.

To support this enhanced focus, the Group will be structured into three sector
specialist groups and a new Senior Management Committee will be formed.  This
will comprise Francis Salway, Andrew Macfarlane - Group Finance Director, Mark
Collins and Ian Ellis - CEO Land Securities Trillium, together with Richard
Akers and Mike Hussey who will be appointed to the roles of Managing Director,
Retail and Managing Director, London Portfolio respectively.  The Senior
Management Committee as an entity will be distinct from the Land Securities
Group Board.

Mark Collins, currently Chief Executive of Portfolio Management, will become
Group Chief Operating Officer from 14 July 2004.  As Chief Operating Officer,
Mark will primarily be responsible for:

  • Group business development;
  • High return activities in non-core sectors, such as Kent Thameside;
  • Investment portfolio services, encompassing property management, project
    management and legal services.

Commenting on the announcement, Francis Salway, Group Chief Executive designate,
said 'We believe that this reorganisation will ensure an integrated approach to
business development across our core sectors and strengthen our customer focus
and I am very pleased that the promotion of Richard Akers and Mike Hussey to
their new roles will assist this.

'Mark Collins will have a key role as Chief Operating Officer ensuring that we
exploit Group business development opportunities and the advantages of scale
across our various activities.

'We are confident that these moves will ensure that the Group remains at the
forefront of the UK property industry, leaving us well positioned to continue to
capitalise on our first class investment portfolio, extensive development
pipeline and innovative accommodation solutions through Land Securities
Trillium.'

This announcement will have no effect on the structure of Land Securities
Trillium nor will it affect Land Securities Group Services.  Furthermore this
restructuring will not result in any material changes to the presentation of the
Group's financial results this year.

                                     -Ends-

For further information, please contact:
Land Securities                                Financial Dynamics
Francis Salway/Emma Denne                      Jonathon Brill/Stephanie Highett
Tel: [phone]                       Tel: [phone]


Notes to editor

Land Securities has instructed Jones Lang LaSalle (Partner: Roualeyn
Cumming-Bruce) to advise on the disposal of its industrial portfolio and any
related property swaps.


                      This information is provided by RNS
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